Recently, the Bitcoin market has experienced significant volatility, with the 70500 level becoming a hurdle for bulls that has lasted for 10 days.

It is currently unclear whether this is a temporary consolidation of the bullish trend or a phase-ending. It is advisable to remain cautious, but the long-term trend is still upward.

The Bitcoin candlestick chart shows that the 66500 support level appears somewhat weak. If bulls are liquidated, the downward pressure may not be sufficient. The extreme position may be between 64000-64500, so be sure to set stop-losses properly.

Regarding ETFs, there was an inflow of 298 million USD on Monday, and BlackRock purchased an additional 332 million yesterday, with most of their holdings being large institutions. Such a large-scale buying at this time is a positive signal. The current open interest is 39.8 billion USD, and the pullback from the high point is not significant, indicating that the market may still have room for correction.

In summary, I am optimistic about the Bitcoin market in the long term, but in the short term, attention should be paid to the risk of corrections. It is recommended that investors cautiously take bullish positions, defend at lower levels, and respond flexibly to market changes. $BTC $ETH $BNB #SCR现货交易对将上市币安 #YGG、ADA、ENA解锁 #美国大选前行情观察 #盘整行情分析 #山寨季要来了吗？